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Why conduct an Audit Committee Effectiveness Survey?

uncertainty as to whether they’re doing all the things they should be doing and that they are effective

demands from directors who aren’t on the organisation’s audit committee but who are equally responsible,
so need assurance their committee is doing the right things and is effective

Take a “temperature check” so that any problem areas or early warning signs can surface and be addressed promptly
and effectively. The cost of waiting, or doing the minimum, in terms of liability and reputation (both personal and
organisational), could be irreparable.

By undertaking a confidential and rigourous review, audit committees can reveal areas requiring improvement and then
work to implement improvement initiatives for greater effectiveness.

Audit committees that undertake our Audit Committee Effectiveness Survey give their board confidence that oversight
and review responsibilities of the committee are being fulfilled, or if not, what steps need to be taken to improve
such.

About the Audit Committee Effectiveness Survey

The Audit Committee Effectiveness Survey includes 120 hard-hitting, best practice survey statements that can be responded
to by audit committee members in around 30 minutes.